Articles tagged 'tax'

Zimra clarifies on dutiable goods 27 November 2018 HARARE - The Zimbabwe Revenue Authority (Zimra) has clarified on guidelines used in the clearance of the designated foreign currency dutiable goods and specified requirements needed to get an exemption approval. This comes after the ministry of Finance and Economic development invoked the Cust...
Govt targets tax dodgers 4 November 2018 HARARE - President Emmerson Mnangagwa is finalising drafting legislation that will restore stability and eliminate mischief in the money markets, his spokesperson George Charamba told the Daily News on Sunday this week. Charamba also revealed that Mnangagwa will use emergency powers to deal wi...
Govt owed over $4,5bn by tax dodgers 31 October 2018 HARARE - Government is owed over $4,5 billion by tax evaders, Finance ministry secretary George Guvamatanga has said. Presenting the 2018 expenditures and 2019 budget priorities before the parliamentary portfolio committee on Finance on Monday, Guvamatanga expressed concern over tax dodging. ...
Adopt a fair tax system for property sector, govt urged 29 October 2018 HARARE - Governement should adopt a fair tax system for the property sector, which is currently heavily taxed, in order to increase the level of participation by individuals, a real estate expert has said. Real Estate Institute of Zimbabwe president Mike Juru said it was critical for President...
Chamisa demands 2 percent tax refunds 23 October 2018 HARARE - MDC leader Nelson Chamisa, has demanded that government reverses and refund Zimbabweans all the money they lost following the introduction of the infamous tax regime, which milks two cents on every dollar for electronic transactions. Speaking to the Daily News, Chamisa said the Zanu P...
Zim tax system hit by low compliance levels 20 October 2018 HARARE - Zimbabwe's tax system is characterised by low compliance levels as registered corporate taxpayers are not remitting their dues, a tax expert has said. Speaking at The Financial Gazette tax review conference last week, Christina Muzerengi, a tax partner with Grant Thornton, said the th...
2 percent tax sparks confusion 19 October 2018 HARARE - There is confusion in the market over the two percent tax introduced by Finance minister Mthuli Ncube. Part of the confusion emanated from an EcoCash message sent to customers stating that whilst their mobile tariffs remain unchanged, all applicable EcoCash transactions now attract tw...
Woes mount for Trek Petroleum 24 October 2017 HARARE - Problems are mounting for one of the country’s leading fuel firms — Trek Petroleum (Private) Limited — which has been dragged to court over a $3,6 million debt owed to a local bank. This comes as the company is facing an uncertain future after the Supreme Court recently threw out its ...
Tough tax regime for miners 23 October 2017 HARARE - The Zimbabwe Revenue Authority (Zimra) is proposing a tough mining regime for miners to ensure that the country gets more taxes. Zimra’s chairperson Willia Bonyongwe last week said Zimbabwe, like all developing countries, needs to find a more equitable tax regime for the mining sector...
Zimra hunts for Pasi succesor 2 October 2017 HARARE - Zimbabwe Revenue Authority (Zimra) has started the process of replacing the authority's former Commissioner-General Gershem Pasi, who resigned in May following his suspension on allegations of corruption. In a notice yesterday, Zimra outlined an array of qualifications the aspiring co...
Zimra surpasses revenue collection target 6 September 2017 HARARE - The Zimbabwe Revenue Authority (Zimra) surpassed its August revenue target of $267,6 million after collections for the month amounted to $307,9 million due to a surge in company tax, data from the agency shows. In its report for the month under review, Zimra said gross collections for...
$8m collected under Health levy 25 July 2017 HARARE - Government has collected $8,2 million since January from a Health Fund levy of $0,05 for every $1 of airtime and mobile data, Finance minister Patrick Chinamasa has said. To increase the tax base and meet his $4,1 billion 2017 Budget, which was flat on 2016, Chinamasa said the continu...
Taxman targets Zanu PF chefs 15 July 2017 HARARE - The country's nouveau riche — especially bigwigs in Zanu PF who have made enormous wealth in the midst of widespread poverty — face lifestyle audits by the Zimbabwe Revenue Authority (Zimra), which is desperate for revenue to fund President Robert Mugabe's bloated administration that has...
Zimra to chase cash hidden in tax havens 15 July 2017 HARARE - Zimbabwe’s tax agency has said it wants to uncover billions of dollars in undeclared assets kept by Zimbabwean citizens in foreign countries amid a worsening liquidity crunch. This comes as Zimbabweans have externalised billions of dollars, ranging from the relatively small bank depos...
Zimra surpasses revenue target 14 July 2017 HARARE - Zimbabwe’s tax agency Zimra has said it exceeded its 2017 second quarter revenue target by over 9 percent, as the economic outlook became positive, buoyed by the good agricultural season and a battery of measures to stimulate investment, exports and production. Zimra chairperson Willi...
'Health levy to stem drug shortages' 11 July 2017 HARARE - Health and Child Care minister David Parirenyatwa says the five percent health levy introduced by government on all air time purchases will improve ordinary citizen’s access to drugs and better health care. Government began deducting a five percent health levy on all airtime purchases...
Airtime levy target missed 7 July 2017 HARARE - Zimbabwe's airtime levy missed its January target of $4 million after the country collected only $3 million due to worsening economic conditions. The government introduced a five percent levy on all airtime purchases for mobile telecommunications firms in 2014 as part of strategies to...
Chinamasa against Road Accident Fund 28 June 2017 HARARE - Finance minister Patrick Chinamasa said he is against the establishment of a Road Accident Fund (RAF), aimed at assisting road accident victims, as it will negatively affect insurance firms’ revenues and burden taxpayers. This comes as Transport minister Joram Gumbo has been pushing f...
Zimra collects $1,4bn 7 June 2017 HARARE - The Zimbabwe Revenue Authority (Zimra) has collected over $1,4 billion in the five months to May this year due to intensified audits and enforcement activities, improvements in operational efficiency, and client engagement initiatives that are being undertaken to enhance revenue collecti...
Taxes not solution 29 May 2017 HARARE - Last week, President Robert Mugabe's government announced plans to introduce a fuel levy – news that was received with shock and sadness by the long-suffering masses. While the motive – to bankroll a Road Accident Fund (Raf) – is noble, in light of the road carnage that has been witne...
Economic decline hits 'sin taxes' 29 April 2017 HARARE - Zimbabwe's excise duty collections have been nose-diving on the back of deteriorating economic conditions, the Zimbabwe Revenue Authority (Zimra) said. Zimra chairperson Willia Bonyongwe said revenue from excise duty in the first quarter amounted to $150,2 million against a target fig...
New govt health levy to hit mobile subscribers 11 April 2017 HARARE - The decision by President Robert Mugabe's stone-broke government to implement a five percent health levy on airtime and mobile data will hit hard long-suffering ordinary Zimbabweans who are reeling from multiple effects of a dying economy, experts say. This comes as two weeks ago, gov...
Zimra surpasses target 10 April 2017 HARARE - Tax collector, Zimbabwe Revenue Authority (Zimra), on Friday said it surpassed its first quarter 2017 collection target on the back of improved collections. Zimra said it had surpassed its first quarter target with gross collections coming in at $862,4 million, six percent above targe...
Zim's multiple taxes stalling progress 4 April 2017 HARARE - The clueless and desperate Zanu PF administration has come up with a raft of new taxes, further strangling its overtaxed citizens. President Robert Mugabe’s government last Thursday imposed a new 10 percent tax on tobacco sales, resulting in angry farmers threatening to withhold their...
'Zimbos' now taxed to death 2 April 2017 HARARE - President Robert Mugabe's cash-strapped government is going for broke — slapping long-suffering poor Zimbabweans with a raft of new taxes in its desperate efforts to raise revenue to meet its obligations, including paying its restive workers on time. So financially distressed has the ...